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Market Commentary


 
Today's Coupons
 
  10-Year Notes   97-30.5 (-04.5) 1.851%  
 
  FN 3.5% Coupon   104-16.5 (-01)  
 
  Support   2.160%  
 
  Resistance   1.720%  
 
 
 
 
Today's Blurb Thursday, March 3, 2016
 
 
         Initial Jobless Claims rose 6K last week to 278K from an unrevised 272K prior to mark the 52nd consecutive week of claims posting under 300K (one full year). The four week moving average for Initial Claims fell to 270,250 from 272,000 to hit the lowest since the week ended November 28th. Continuing Claims rose 3K to 2257K with an upward revision prior from 2253K to 2254K. The final estimate for Q4 2015 Productivity reflected a 2.20% decline vs. 3.00% decline in the first estimate. January Factory Orders is expected to advance 2.10% following a 2.90% drop in December. Treasuries continue to persist around yesterday’s 2:00 PM (PT) close levels ahead of tomorrow’s Nonfarm Payrolls, and the curve has steepened with 2s10s up 0.3 bp.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  02/29 ISM Milwaukee 06:00 Feb  50.00   55.22  50.36 -  
                   
  02/29 Dallas Fed Manf. Activity 07:30 Feb  -30.00   -31.80 -34.60 -  
                   
  03/01 Markit US Manufacturing PMI 06:45 Feb F 51.20   51.30   51.00 -  
                   
  03/01 ISM Manufacturing 07:00 Feb 48.50   49.50 48.20  -  
                   
  03/01 Construction Spending MoM 07:00 Jan  0.30%      1.50%   0.10% 0.60%  
                   
  03/02 MBA Mortgage Applications 04:00 26 Feb -     -4.80%   -4.30% -  
                   
  03/02 ADP Employment Change 05:15 Feb 190K 214K  205K 193K  
                   
  03/02 ISM New York 06:45 Feb  - 53.60  54.60 -  
                   
  03/02 U.S. Federal Reserve Releases Beige Book 11:00 - - - - -  
                   
  03/03 Challenger Job Cuts YoY 04:30 Feb   -   21.80%   41.60% -  
                   
  03/03 Nonfarm Productivity 05:30 4Q F  -2.90% -2.20% -3.00% -  
                   
  03/03 Initial Jobless Claims 05:30 27 Feb   270K  278K 272K -  
                   
  03/03 Continuing Claims 05:30 20 Feb   2250K 2257K 2253K 2254K  
                   
  03/03 Markit US Services PMI 06:45 Feb F   50.00  49.70 49.80 -  
                   
  03/03 Markit US Composite PMI 06:45 Feb F  - 50.00  50.10 -  
                   
  03/03 Bloomberg Consumer Comfort 06:45 28 Feb  - 43.60  44.20 -  
                   
  03/03 Durable Goods Orders 07:00 Jan F  -   4.70%    4.90% -  
                   
  03/03 Durables Ex Transportation 07:00 Jan F  -   1.70%   1.80% -  
                   
  03/04 Trade Balance 05:30 Jan -$44.00 B -   -$43.36 B -  
                   
  03/04 Change in Nonfarm Payrolls 05:30 Feb 195K -   151K -  
                   
  03/04 Unemployment Rate 05:30 Feb  4.90% -    4.90% -  
                   
  03/04 Average Hourly Earnings MoM 05:30 Feb  0.20% -    0.50% -  
                   
  03/04 Average Hourly Earnings YoY 05:30 Feb  2.60%  -   2.50% -  
                   
  03/04 Underemployment Rate 05:30 Feb   -  -  9.90% -  
                   
 
 
 
 
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